CGL-C.TO vs. SOXS
CGL-C.TO (iShares Gold Bullion ETF) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - CGL-C.TO is a Gold fund tracking the LBMA Gold Price (CAD), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, CGL-C.TO returned 13.01%/yr vs -79.35%/yr for SOXS. At a 0.10 correlation, their price movements are largely independent. CGL-C.TO charges 0.55%/yr vs 1.08%/yr for SOXS.
Performance
CGL-C.TO vs. SOXS - Performance Comparison
Loading charts...
Different Trading Currencies
CGL-C.TO is traded in CAD, while SOXS is traded in USD. To make them comparable, the SOXS values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CGL-C.TO achieves a 1.94% return, which is significantly higher than SOXS's -93.52% return. Over the past 10 years, CGL-C.TO has outperformed SOXS with an annualized return of 13.01%, while SOXS has yielded a comparatively lower -79.35% annualized return.
CGL-C.TO
- 1D
- 2.56%
- 1M
- -3.33%
- YTD
- 1.94%
- 6M
- 1.69%
- 1Y
- 28.64%
- 3Y*
- 31.98%
- 5Y*
- 21.21%
- 10Y*
- 13.01%
SOXS
- 1D
- -16.37%
- 1M
- -56.46%
- YTD
- -93.52%
- 6M
- -93.88%
- 1Y
- -97.93%
- 3Y*
- -86.70%
- 5Y*
- -80.02%
- 10Y*
- -79.35%
CGL-C.TO vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGL-C.TO iShares Gold Bullion ETF | 1.94% | 55.55% | 37.41% | 10.13% | 6.11% | -4.85% | 21.75% | 11.98% | 6.86% | 4.31% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -93.52% | -86.19% | -56.12% | -84.93% | 23.09% | -80.95% | -93.07% | -84.48% | -12.61% | -71.46% |
Correlation
The correlation between CGL-C.TO and SOXS is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2012 | 0.10 |
The correlation between CGL-C.TO and SOXS shifts across timeframes, from -0.20 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CGL-C.TO vs. SOXS — Risk / Return Rank
CGL-C.TO
SOXS
CGL-C.TO vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CGL-C.TO) and Direxion Daily Semiconductor Bear 3x Shares (SOXS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CGL-C.TO | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.97 | ||
| Sortino ratioReturn per unit of downside risk | +5.14 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.61 | +0.61 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | -1.00 | +2.30 |
| Martin ratioReturn relative to average drawdown | 3.69 | -1.48 | +5.17 |
Loading charts...
Drawdowns
CGL-C.TO vs. SOXS - Drawdown Comparison
The maximum CGL-C.TO drawdown since its inception was -30.01%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for CGL-C.TO and SOXS.
Loading charts...
Drawdown Indicators
| CGL-C.TO | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.01% | -100.00% | +69.99% |
Max Drawdown (1Y)Largest decline over 1 year | -22.11% | -97.81% | +75.70% |
Max Drawdown (3Y)Largest decline over 3 years | -22.11% | -99.84% | +77.73% |
Max Drawdown (5Y)Largest decline over 5 years | -22.11% | -99.97% | +77.86% |
Max Drawdown (10Y)Largest decline over 10 years | -22.78% | -100.00% | +77.22% |
Current DrawdownCurrent decline from peak | -17.33% | -100.00% | +82.67% |
Average DrawdownAverage peak-to-trough decline | -10.72% | -92.77% | +82.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.79% | 67.69% | -59.90% |
Volatility
CGL-C.TO vs. SOXS - Volatility Comparison
The current volatility for iShares Gold Bullion ETF (CGL-C.TO) is 8.08%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 59.85%. This indicates that CGL-C.TO experiences smaller price fluctuations and is considered to be less risky than SOXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CGL-C.TO | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.08% | 59.85% | -51.77% |
Volatility (6M)Calculated over the trailing 6-month period | 22.58% | 96.33% | -73.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.24% | 112.61% | -86.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.24% | 110.35% | -93.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.67% | 101.78% | -86.11% |
CGL-C.TO vs. SOXS - Expense Ratio Comparison
CGL-C.TO has a 0.55% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
CGL-C.TO vs. SOXS - Dividend Comparison
CGL-C.TO has not paid dividends to shareholders, while SOXS's dividend yield for the trailing twelve months is around 84.95%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CGL-C.TO iShares Gold Bullion ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 84.95% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
CGL-C.TO and SOXS have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CGL-C.TO is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CGL-C.TO is cheaper with a 0.55% expense ratio, compared with 1.08% for SOXS.
CGL-C.TO is categorized as Gold, while SOXS is Inverse Equities. CGL-C.TO tracks LBMA Gold Price (CAD), while SOXS tracks PHLX Semiconductor Index (-300%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.55% for CGL-C.TO and 1.08% for SOXS.
Find the right allocation for CGL-C.TO and SOXS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer